Peru Raises AFP Investment Cap

Peru Raises AFP Investment Cap

January 21, 2013

Peru’s central bank has increased the limit for investing abroad by the country’s private pension funds, or AFPs, to 32% from 30%, it says. The increase is the first since a hike to 30% from 28% in 2010, and should represent an additional $750m in possible investment. Spurred on by the MILA integration, the AFPs had about 29% of their portfolios invested abroad at year-end 2012. There are four AFPs – BBVA’s Horizonte, Grupo Sura’s Integra, Scotia’s Profuturo and Credicorp’s Prima.